Large language models, with their ability to generate humanlike text and assist in everyday tasks, have made generative AI tools like ChatGPT the poster children of artificial intelligence. However, amid the allure of this innovative technology, there lies a significant risk: the potential overshadowing of advanced analytics and traditional AI — analytical AI, for short. Analytical AI has consistently demonstrated its value in enhancing business decisions and processes, yet it risks being neglected in favor of GenAI’s new and exciting capabilities. According to research from McKinsey, generative AI use cases could add to the economic benefits projected for analytical AI use cases by 15% to 40%. This prediction underscores the need for a balanced approach when deploying AI projects.

Leaders should recognize that generative AI and analytical AI are complementary rather than interchangeable. GenAI focuses on efficiency and automation, like using AI-powered chatbots to increase call center productivity, whereas analytical AI enhances strategic decision-making, like determining the best time or offer for each customer contacted by the call center.

Which flavor of AI suits your business problem best? A critical step in creating a road map for AI projects involves conducting ideation workshops in which business and technical leaders can brainstorm about opportunities to apply AI to organizational challenges. While conducting hundreds of these workshops, we have seen two main difficulties arise: Business leaders often struggle to effectively spot opportunities to apply analytical AI, and technical teams seldom have the necessary business awareness to guide the discussion and influence the chosen projects. The good news is that, just as a GenAI-powered chatbot can benefit call center operations by helping to resolve customer issues more efficiently, a GenAI companion ideation tool can yield substantial benefits during these workshops.

The LLM proved valuable not only during the workshops for generating AI solutions but also in the follow-up stages, where the team detailed each use case and developed a comprehensive road map of opportunities. Because users left the workshop with a detailed deep dive into each opportunity, their ability to take subsequent steps was significantly improved.

Overall, the outcomes of using this generative AI companion tool were highly effective for the holding company: It identified about 100 possible AI projects, a twofold increase over the company’s expectations based on the number of workshop participants. These projects are projected to deliver millions of euros to the bottom line of the various subsidiaries.

The impact extended beyond quantitative measures to qualitative benefits. Compared with their experience in workshops without a generative AI companion tool, participants tackled a wider diversity of subjects, including customers, operations, and corporate topics. Moreover, people were able to talk in deep, concrete ways about the use cases within the time limits of the workshops.

Three Takeaways for Leaders

By integrating a generative AI companion tool, teams can feel assured that they are not downplaying the potential of GenAI but rather are using it to unearth both analytical and GenAI projects.

Continually reviewing and refining your AI strategies to stay aligned with your company’s business goals is a must. A generative AI companion tool can significantly enhance the effectiveness of ideation workshops, helping them run more smoothly and with more energy. As a result, AI leaders can run these workshops more frequently and independently of large-scale road map exercises — driving more agile and creative outcomes.

Finally, the generative AI companion tool empowers and connects both technical and business teams. By providing each team with the knowledge they are missing, the custom LLM levels the playing field and fosters effective collaboration, which is crucial for successful AI projects.

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While generative AI captivates people’s attention, companies should not overlook the proven capabilities of analytical AI. By integrating these tools thoughtfully and strategically, companies can unlock the full potential of artificial intelligence, driving innovation and value creation. For leaders ready to embrace this approach, the future of AI in business is not just bright — it is transformative.